Profiteering from the attack!

TRUMPHENT

Golden Member
Jan 20, 2001
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Ron Insana of NBC, was just on the Today Show. He says that someone had been shorting the reinsurance company stocks that insured the towers. Talk about getting the last drop out of the disaster. When they buy back the shares the prices will be much lower and the profits enormous. Maybe the SEC can block the transactions.

The King of Jordan was just interviewed, Jordan is U.S. ally. He speaks excellent english with english accent.
 

subpar

Senior member
Oct 9, 1999
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The King of Jordan was educated in the U.S. He went to my school, Brown University--no suprise that he speaks English well :)
 

coolVariable

Diamond Member
May 18, 2001
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I heared about this too!!!
I hope they find out who is behind this (he must have known about the attack) and freeze his account!
I guess the victims and their families and maybe the US-Military (for the retaliation) deserve to get their fair share of this money!
I REALLY REALLY HOPE that it's Bin Ladens last financial assets and that they confiscate them TOTALLY!!!
 

HowardStern

Banned
Jun 28, 2001
1,124
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It's probably a safe bet to short shares of American and United Air Lines. I'm less sure about the insurance stuff because there is usualy a clause in them about not paying in case of an act of war, etc.

 

BDawg

Lifer
Oct 31, 2000
11,631
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I thought I heard yesterday that the person who was short selling was Bin Laden himself.
 

bcterps

Platinum Member
Aug 31, 2000
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The SEC has already said that it is going to limit short sales on Monday, so I doubt it's gonna be much of a problem. However it is a free market economy, the market will take some time to settle down and some people will be able to take advantage of it and make some money. It happens all the time, during war, during a recession, and during economic growth. Invest for the long term, and dont worry about it.

--Ben
 

b0mbrman

Lifer
Jun 1, 2001
29,470
1
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Bah, they're not bloodthirsty. If there's two equally good or bad options, they just take the one that helps them more
 

TRUMPHENT

Golden Member
Jan 20, 2001
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<< The SEC has already said that it is going to limit short sales on Monday, so I doubt it's gonna be much of a problem. >>



These short sales were made prior to the attack. They were on the companies that are re-insurors of the buildings and businesses.
 

Yeeny

Lifer
Feb 2, 2000
10,848
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They think the people that did the short sales may have used that money to finance the attack on the WTC and Pentagon. They are looking in Germany where the sales where.